Famous Studio To Be Replaced by Residential Building

April 20, 2012 8:47 am

• Studio Shut. Mumbai’s 66-year-old Famous Studio located in Mahalaxmi will be redeveloped by Piramal Realty. The transaction for the property, located opposite the Mahalaxmi racecourse, is expected to be worth about Rs350 crore. Under the proposed deal, Piramal Realty and the owner of the studio will jointly develop a high-end residential property. Famous Studios was set up in 1946 and its nine studios are rented out for shooting and post production facilities. [The Economic Times]

• Strike Ban. The state government has introduced a law under which it can penalize employees in any service, type of employment or class if they strike and it affects the maintenance of services essential to the community. “Illegal” strikers face a six-month jail term and a fine of Rs2,000 and people instigating employees to go on a strike could face a one-year jail term. [The Times of India]

• Flying High. Aviation authorities recorded a threefold increase in the number of crew members found drunk while reporting to the airport for operating flights in the January-March quarter this year. The number of pilots who failed the breath analyzer test rose from four to 14 and cabin crew jumped from 11 to 31. If caught reporting to work under the influence of alcohol, the Directorate General of Civil Aviation suspends the licence of pilots for three months and if caught for a second time, the flying licence is suspended for five years. [The Times of India]